Singapore Airlines (SIA) has finalised a purchase agreement with Airbus for seven A350F freighter aircraft to replace its existing 747-400F fleet, with an option for five more.
Back in December 2021, SIA had revealed it signed a provisional agreement to buy the freighters, and with this deal, the airline becomes the first in the world to operate the new variant when deliveries complete in 20225
The deal was signed at the Singapore Airshow between SIA CEO Goh Choon Phong, and Airbus Chief Commercial Officer and Head of International Christian Scherer.
In a release by Airbus, Scherer said the A350F will fit “seamlessly” into the SIA’s existing fleet, and improves upon the operational efficiency of its cargo operations.
The A350F also brings a 40% reduction in fuel consumption and emissions compared with SIA's 747-400F, while offering the same payload-carrying capacity and longer range.
Goh also added that these aircraft “underscores the importance of the cargo market to SIA”, noting that the A350F will enhance the airlines’ capabilities in this sector.
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Furthermore, he thinks the aircraft will substantially increase operating efficiencies and reduce fuel burn, “which will make an important contribution towards the success of our long-term decarbonisation goals.”
Airbus says more than 70% of the airframe will be made of advanced materials, resulting in a 30 tonne lighter take-off weight and generating at least 20% lower fuel consumption and emissions over its current closest competitor.
SIA is the world’s largest operator of the A350 family, with 58 currently in service.
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In a release, SIA says the A350F deal with Airbus includes a swap with 15 A320neo and two A350-900 passenger aircraft in SIA order book, which allows it to manage its capital expenditure while continuing with its freighter renewal programme.
As at 1.40pm, Shares of SIA traded at $5.30, up three cents or 0.57% higher than its previous close.
